SK Group chairman to chair board of SK hynix's U.S. AI arm

What happened: SK Group Chairman Chey Tae-won will chair the board of HYAICO Corp., SK hynix's U.S.-based AI investment arm, per SEC filings. SK hynix President Song Hyun-jong will serve as HYAICO's chief executive. Key numbers: SK hynix announced the arm in January with plans to invest up to US$10 billion. Why it matters: SK hynix said the arm would help accelerate AI advancement in global markets and find new AI growth engines. It will launch by restructuring SK hynix's existing U.S. arm, Solidigm, with a separate Solidigm Inc. keeping the brand name.

SK Group Chairman Chey Tae-won will chair the board of HYAICO Corp., SK hynix's U.S.-based AI investment arm, per SEC filings. SK hynix President Song Hyun-jong will serve as HYAICO's chief executive.

SK hynix said the arm would help accelerate AI advancement in global markets and find new AI growth engines. It will launch by restructuring SK hynix's existing U.S. arm, Solidigm, with a separate Solidigm Inc. keeping the brand name.